RANA BASIT RICE MILLS vs UNIVERSAL INSURANCE CO — 2023 CLD 647 INSURANCE-TRIBUNAL-LAHORE

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

RANA BASIT RICE MILLS VS UNIVERSAL INSURANCE CO. LTD. S. 115--- application of Pakistani law to policies issued in Pakistan---Scope---Marine Insurance Policy---Plain reading of S. 115 of the Insurance Ordinance, 2000, shows that it is a non-obstante clause, which provides that notwithstanding anything to the contrary, contained in the policy or any agreement relating thereto, the holder of the insurance policy issued by an insurer in respect of insurance business transacted in Pakistan after the commencement of the Ordinance, shall have the right to receive payment in Pakistan of any sum secured thereby and to sue for any relief in respect of the policy in any tribunal---Further if suit is brought in Pakistan, any question of law arising in connection with any such policy shall be determined according to the law in force in Pakistan---However, there is an exception to this section by way of proviso that this section shall not apply to a policy of Marine insurance---This simply means that if in the Marine Insurance Policy it is specifically provided that payment can be received or suit can be filed in any other country, this non-obstante provision of section 115 of the Insurance Ordinance, 2000, will not override such Marine Insurance Policy---Obvious purpose of proviso to section 115 of the Insurance Ordinance is to avoid any kind of interference with the normal business of Marine Insurance, in as much as Marine Insurance Contracts are international in scope and most of the time are for the benefit of the consignee abroad who have option of stipulating clause in the Marine Insurance Policy mentioning place where such contracts are intended to be carried out between the parties. Citation Name: 2023 CLD 647 INSURANCE-TRIBUNAL-LAHOREBookmark this Case RANA BASIT RICE MILLS VS UNIVERSAL INSURANCE CO. LTD. S. 122---Insurance claim---Scope---Insurance Tribunal has the exclusive jurisdiction to hear cases of all kinds of insurance, including life, general and marine.

RANA BASIT RICE MILLS vs UNIVERSAL INSURANCE CO — 2023 CLD 647 INSURANCE-TRIBUNAL-LAHORE

Case information

Judgment text as reported

Other judgments reported in 2023 CLD